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By Salma El Wardany, Grant Smith, and Fiona MacDonald OPEC+ has begun discussing another 411,000 barrel-a-day production increase for August ahead of the group’s video-conference this weekend, according to delegates who asked not to be identified. Saudi Arabia and its partners have previously approved hikes of the same size for May, June and July as …
OPEC+ Discusses 411,000-Barrel Hike in August, Delegates Say Read More »
(Reuters) – U.S. liquefied natural gas (LNG) exporter Venture Global Inc announced on Thursday that Petronas has agreed to buy 1 million metric tons of LNG from its CP2 project, its first new CP2 customer in two years. A mere startup three years ago, Venture Global has quickly moved to become the U.S.’ second largest …
Venture Global Inks 20 Year LNG Deal with Petronas Read More »
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a 10th week in a row for the first time since July 2020, energy services firm Baker Hughes said in its closely followed report on Thursday. The oil and gas rig count, an early indicator of future …
US Drillers Cut Oil and Gas Rigs for 10th Week in a Row, Baker Hughes Says Read More »
The United States imposed sanctions on Thursday against a business network that smuggles Iranian oil disguised as Iraqi oil, as well as sanctions targeting a Hezbollah-controlled financial institution, the Treasury Department said. The network of companies run by Iraqi businessman Salim Ahmed Said has been buying and shipping billions of dollars worth of Iranian oil …
US Imposes New Sanctions Targeting Iran Oil Trade, Hezbollah, Treasury Dept Says Read More »
ARLINGTON, Va.–(BUSINESS WIRE)–Today, Venture Global, Inc. (NYSE: VG) announced the execution of a new 20-year Sales and Purchase Agreement (SPA) with PETRONAS LNG Ltd. (PLL), a subsidiary of the Malaysian state-owned oil and gas company, PETRONAS. Under the terms of the SPA, PETRONAS will purchase 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from …
Venture Global Announces 20-Year Sales and Purchase Agreement with PETRONAS Read More »
Golden Pass LNG, which is owned by Exxon Mobil and QatarEnergy, has asked U.S. regulators for permission to re-export liquefied natural gas from October 1, as the export plant nears production after previous delays. The company said it wants to re-export a cargo of LNG that it plans to import to cool down its export …
Exxon, QatarEnergy JV Asks US Regulators for Permission to Re-Export LNG From October 1 Read More »
(Reuters) – The budget bill the U.S. Senate passed on Tuesday and the House of Representatives is now debating for final approval would dampen development of wind and solar power, kill climate funding and boost oil, gas and coal output. Below are some details about the bill’s provisions on energy development and the environment: SOLAR, …
Trump’s Budget Bill Boosts Fossil Fuels, Hits Renewable Energy Read More »
(Reuters) – Total oil futures and options lots traded on the Intercontinental Exchange (ICE) hit record highs in the second quarter, as U.S. President Donald Trump waged a trade war and geopolitical conflicts in the Middle East escalated. WHY IT’S IMPORTANT Significant volatility in the second quarter had global benchmark Brent crude futures dropping to …
Oil Futures, Options Trade at Record Levels in Q2 as Investors Navigate Volatility Read More »
(Reuters) – U.S. net imports of crude oil rose to 4.6 million barrels per day (bpd), its highest since June 2024, data from the Energy Information Administration showed, as export tumbled due to a narrow spread between U.S. West Texas Intermediate crude and Brent. Net imports rose by 2.94 million bpd in the week to …
US Net Imports of Crude Soar Last Week to Highest in a Year, EIA Says Read More »
(Reuters) – U.S. crude oil and gasoline inventories rose unexpectedly last week as both exports and demand fell sharply, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 3.8 million barrels to 419 million barrels in the week ending June 27, the EIA said, compared with analysts’ expectations in a Reuters poll …
US Crude and Gasoline Inventories Rise on Lower Exports, Demand, EIA Says Read More »
